After Record Black Friday, How Will Cyber Monday Fare?
After Record Black Friday, How Will Cyber Monday Fare?
Holiday shoppers set records over Thanksgiving weekend
30 November, 2017, 13:54
"It bodes well for the rest of the year". In the run-up to the holiday weekend, established retailers invested gradually in upgrading their websites and bulking up delivery alternatives, preempting a decline in visits to brick-and-mortar stores.
From Thanksgiving Day through Cyber Monday, the average shopper spent $335.47, with $250.78, or 75 percent, going toward "gifts".
Sales occurred over multiple platforms as online shopping continued to gain strength. The survey found that more than 64 million shopped both online or in stores.
Those customers also spent more, according to the federation. Multichannel shoppers spent $82 more on average than the online-only shopper, NRF noted, and $49 more on average than the in-store shopper.
"This is one big weekend of shopping, and there's really no distinction at the end of the day", he said. "We saw that play out over the weekend".
Firearms merchants dangled Cyber Monday deals on guns and accessories, with discounts on ammunition from Cabela's, scopes from Dick's Sporting Goods and, from Bass Pro Shops, an Armalite M-15 Defensive Sporting Semi-Auto Rifle for $649.97, marked down from $799.99. "However, younger consumers (those under 34) are still savvy when it comes to online shopping and leveraged their smartphones the most to browse for the best deals from some of their favorite retailers".
US retailers are expected to continue raking in holiday spending cash Monday, just three days after notching record sales on "Black Friday".
The uptick on online shopping isn't just planning on lasting until today, but online sales are expected to also increase by 13.8 percent this year.
Adobe Analytics estimated that the USA holiday season would deliver $100 billion in sales for the first time.
A growing number of those purchases have taken place on smartphones and tablets as consumers grow more comfortable stepping away from desktop computers to search for deals.
At the same time, purchases made on smartphones rose to make up 40% of sales, up 29% from a year ago. Online revenues are 13.8% higher compared to a year ago.
Analysis from other research firms showed traffic to stores falling over the holiday, though the decline was not as steep as some predicted.
McMillan-Doolittle's Stern said the in-store performance was better than anticipated and contributed to what was an upbeat weekend across retail.
In many ways, retailers are primed for a blowout holiday season. The federation said it was sticking to those projections as retailers move into what Shay described as the "halftime break of the holiday season".
This year's Thanksgiving weekend results do not include historical data from past years due to changes made to the survey methodology to help better understand consumers' shopping experience and to include Cyber Monday in the calculations.
The holiday shopping season is here, and consumers are turning up for deep discounts in full force.
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